In the News

CSAJ is Stopping the Debt Trap for Survivors

October 04, 2016

CSAJ, in partnership with a national coalition of DV/SA and consumer partners, is shedding light on the impact of Payday Loans on domestic and sexual violence survivors.

The Problem

The Consumer Financial Protection Bureau (CFPB) has taken important action to curb the exorbitant interest rates, debt traps, and collections practices of PayDay lenders. But CFPB’s proposed rules are not strong enough. As written, the rules will have little impact on current practices, make enforcement unlikely, and create new footholds in states that currently ban Payday lending. This presents dangerous implications for survivors of domestic and sexual violence who are at particular risk of economic and physical harm.